The following is a media release from the Australian and New Zealand National Council for fire and emergency services setting out their estimate of how this coming summer’s fire season will play out. As it is so important to the insurance industry and business and personal lines insureds, I share it with you in case you have not seen this important research. AFAC, the National […]
Unfair Contract Terms Legislation receives Royal Assent
The Treasury Laws Amendment (More Competition, Better Prices) Act 2022 became law on November 10, 2022. The Act reflects a key election promise of the Albanese Government to make unfair contract terms illegal and increase the maximum penalties for a breach of competition and consumer laws. What do these changes mean? With this legislation becoming law, the maximum penalties applicable to certain breaches of the Competition and […]
Business and individuals need help from government to reduce cyber risk
Cyber attacks have been the leading story in Australia for the past few weeks with the breaches at Medibank Private and Optus being two of the most high profile cases. It is reported in Business News America that three-quarters of businesses in the UK and the US have been hit by a serious cyber attack at least once since 2019, according to the S-RM Cyber […]
New legislation in WA affects statutory fines and penalties coverage
The following caught my eye from the WA Government’s Small Business Development Corporation, thought I would share with the community. The most important section has been bolded for readers’ convenience. You can also read about the legislation here. 4. Penalties have changed The WHS Act includes a new offence of industrial manslaughter (s30A). This offence involves substantial penalties for PCBUs in a business where a […]
Beware the Storm Chasers
Following the recent storms and floods, there have been a number of firms advertising on the radio offering to assist insureds with their insurance claim. It is understandable that some insureds struggle with the claim process, particularly after they have seen their home or business badly effected. Sadly, there are some companies and individuals that take the opportunity to exploit people when they are vulnerable. […]